FENDER MUSICAL INSTRUMENTS CORPORATION APPOINTS NEW CHIEF FINANCIAL OFFICER

Matt Janopaul Named CFO Following Jim Broenen Retirement

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Fender Musical Instruments Corporation

Jan 24, 2022, 09:00 ET

HOLLYWOOD, Calif., Jan. 24, 2022 /PRNewswire/ -- Fender Musical Instruments Corporation (FMIC) announced today the appointment of Matt Janopaul as Chief Financial Officer, who will report directly to Andy Mooney, Chief Executive Officer. Janopaul succeeds Jim Broenen who retired in December 2021 after a distinguished 15-year career with the company, with the past 13 years serving as CFO. With the transition from private equity to the long-term capital provided by Servco Pacific Inc. (Servco), FMIC's investor since 1985, Janopaul's focus will be centered around key strategic growth initiatives. These include continuing to deliver growth consistent with culture-driven brands, optimization of FMIC's global footprint from a sales and supply standpoint, the development of a consumer focused digital ecosystem that incorporates products and software from its recent acquisition of PreSonus.

"I am pleased to welcome Matt Janopaul as FMIC's new Chief Financial Officer," said Andy Mooney, FMIC CEO. "He has been a valued partner to the company for many years through his role initially at Weston Presidio, and more recently at Servco. Matt has extensive knowledge of FMIC's history, current operations and future growth plans. His financial acumen, leadership experience and company knowledge will facilitate a smooth transition in FMIC's finance function, and enable him to quickly contribute to FMIC's world-class leadership team as we support the 16 million new players that have joined our community in the last two years."

"One of my first comments to Fender's Board of Directors upon joining the company in 2015 was: 'For a company its size, the finance function way out-punches its weight class," said Mooney. "Jim's leadership of the finance department at FMIC has been exceptional. He built a world-class team that has guided the company through challenges, and set the stage for our current success. However, Jim does more than lead the finance function, much more. He's been a trusted advisor to FMIC's executive team in general, and to myself in particular. Every key decision made over the last six years was made with his counsel and guidance. Jim has developed many personal friendships over the years. I consider myself fortunate to be his friend, and believe our friendship will be lifelong. It's been my privilege to have worked with him, and I wish him, his wife Gina, and his family my very best wishes for the future."

Janopaul brings a unique perspective and longtime partnership to FMIC, joining from his most recent role as Managing Director of Servco Pacific Capital (SPC), the direct investment arm of Servco Pacific, Inc. (Servco), the largest for-profit private company in Hawaii. SPC's largest investment to date is the majority ownership of FMIC. Since 2001, Janopaul has held various roles with Fender, ranging from investor and board member, to President and Chief Operating Officer. As COO, he was responsible for the daily operations of the company including accounting and finance, corporate development, IT, manufacturing and supply chain. Prior to joining Fender, Janopaul was a General Partner of Weston Presidio, a leading $3.3 billion private equity firm with offices in San Francisco and Boston, where he was actively involved in management buyouts, recapitalizations, leveraged consolidations and growth financings across the consumer, industrial, service and publishing sectors.

"We are all so thankful for Matt's contributions to Servco. His leadership has played an important role in the unprecedented success of our business, including his work with FMIC through Servco Pacific Capital," said Mark Fukunaga, Chairman and CEO of Servco. "Matt's passion for the music industry and Fender's success has always been clear, which makes us confident that this is the right move for Fender and Servco. We congratulate Matt, and look forward to working with him in his new role."

"Over the past twenty years, I have cared deeply about Fender and its mission to support artists at every stage of their musical journey. What makes FMIC so special are the people throughout the organization – from the factory floors in Corona and Ensenada to the global sales team – it is an amazing culture," said Janopaul. "I look forward to the opportunity to work with Andy and Fender's industry-leading executive team as well as join the talented finance organization that Jim Broenen has built. This is an exciting time to be a part of this new future and the Company's long-term roadmap of innovative products and digital offerings."

Headshot and bio for Jim Broenen and Matt Janopaul available here.

For technical specs, additional information on new Fender products and to find a retail partner near you, visit www.fender.com. Join the conversation on social media by following @Fender.

ABOUT FENDER MUSICAL INSTRUMENTS CORPORATION:
Since 1946, Fender has revolutionized music and culture as one of the world's leading musical instrument manufacturers, marketers and distributors. Fender Musical Instruments Corporation (FMIC)–whose portfolio of owned and licensed brands includes Fender®, Squier®, Gretsch® guitars, Jackson®, EVH®, Charvel®, Bigsby® and PreSonus® –follows a player-centric approach to crafting the highest-quality instruments and digital experiences across genres. Since 2015, Fender's digital arm has introduced a new ecosystem of products and interactive experiences to accompany players at every stage of their musical journey. This includes innovative apps and learning platforms designed to complement Fender guitars, amplifiers, effects pedals, accessories and pro-audio gear, and inspire players through an immersive musical experience. FMIC is dedicated to unlocking the power of musical expression for all players, from beginners to history-making legends. In 2021, Fender celebrated 75 years of giving artists "wings to fly," carrying on the vision of its founder, Leo Fender, and connecting players through a shared love of music.

FENDER (standard and in stylized form) are trademarks of Fender Musical Instruments Corporation and/or its affiliates, registered in the U.S. and other countries.

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